Mortgage and Financial News From 2007-9-5 Page 9

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  • Fed Report Says Economic Effect of Turmoil `Limited' (Update1)

    Bloomberg - ... more weight than usual ahead of the Fed's Sept. 18 meeting to set interest rates ... recession and global financial-market turbulence stemming from U.S. subprime-mortgage ... Stocks Tumble After Home Sales Drop, Global Credit Concerns Resurface ...
    2007-09-05 11:45:00
  • Commercial Real Estate in U.S. Poised for Price Drop (Update3)

    Bloomberg - Commercial mortgage rates have climbed as defaults rose in the subprime part of the residential real estate market. About six months ago, a 30-year commercial loan with 5 to 10 years of interest-only payments would have cost the borrower about 120 ...
    2007-09-05 01:11:00
  • Pending Home Sales Plunge; Private Job Gains Fade

    CNBC - Data from the Mortgage Bankers Association showed that applications for U.S. home loans rose last week, although rates on adjustable rate mortgages climbed to the highest in more than six years. The portion of borrowers seeking an ARM, once sought ...
    2007-09-05 10:34:00
  • Pending home sales sink in July (AP via Yahoo! News)

    A near-record low for an index that forecasts near-term home sales suggests borrowers in expensive areas are struggling to finalize home purchases amid mortgage market troubles.
    2007-09-05 12:42:20
  • State offering mortgage loans (WHOI Peoria)

    The state has a new mortgage loan program that offers 40 year loans. The program will give about 150 low to moderate-income residents a chance to receive a fixed rate home loan with below market rates.
    2007-09-05 01:42:31
  • U.S. hiring slowest in four years, ADP says

    Marketwatch - According to ADP, the services sector added 87,000 jobs in August, the lowest total since April 2006. ... may need to act before Fed does Long-term metals prices to keep pace with costs, Merrill says Layoffs surge 85% on mortgage ...
    2007-09-05 09:37:00
  • US Pending Home Sales Index Drops Sharply In July

    FXStreet.com - In a news release, the NAR said the index shows existing-home sales are likely to decline in coming months as mortgage ... UN Agency Urges Intl Cooperation To Manage Forex Rates Dow Jones | Wed, Sep 5 2007, 17:00 GMT Italy August unit trust net ...
    2007-09-05 10:12:00
  • Business Minute: Stocks weaken...Fed on the credit crunch...pending ...

    WDAM-TV - This Week in House and Home House & Home Main Today's Mortgage Rates In the Know Movie Listings Personal Finance This Week in Money ... WASHINGTON (AP) - A trade group says pending sales of existing homes fell in July to the lowest level in nearly six years ...
    2007-09-05 10:34:00
  • Home Sales: The Roof Is On Fire

    Forbes - Surprise, surprise, pending home sales for July are at their lowest levels in ... that existing-home sales are likely to decline in the coming months as mortgage ... and many lenders making jumbo loans have demanded that borrowers pay higher rates. ...
    2007-09-05 12:07:00
  • Wall Street's tough day

    CNN Money - ... to confusion about whether the central bank will cut short-term interest rates ... tepid employment reading and signs of more problems for the credit and mortgage ... home sales index , a measure of contracts to buy existing homes, fell to its lowest ...
    2007-09-05 01:26:00
  • Swedbank Gets Permission to Resume Russian Operations (Update1)

    Bloomberg - Sept. 5 (Bloomberg) -- Swedbank AB, the largest lender in the Baltic region, said it got permission to resume all its operations in Russia after the country's central bank in June barred the company from certain banking activities. The Russian ...
    2007-09-05 03:03:00
  • Clinton, Obama Back Bigger Army to Blunt Soft-on-Security Slams

    Bloomberg - Sept. 5 (Bloomberg) -- Michael Dukakis's tank ride and John Kerry's Iraq flip-flop still haunt the Democratic Party. This year's presidential candidates are aggressively working to avoid soft-on-security images, keeping in mind the ridicule ...
    2007-09-05 06:09:00
  • Pending sales of existing homes fell in July to lowest level since ...

    San Diego Union-Tribune - WASHINGTON – Pending sales of existing homes fell in July to the lowest level in ... can't be packaged into securities sold to investors by government-sponsored mortgage ... and many lenders making jumbo loans have demanded that borrowers pay higher rates ...
    2007-09-05 10:20:00
  • BOE, ECB Act to Protect Economies From Higher Rates (Update2)

    Bloomberg - The collapse of the U.S. subprime mortgage market has made banks reluctant to lend to ... The increase in funding rates, if it persists, could have adverse effects on ... rate for the 13 countries sharing the euro dropped to 4.15 percent, the lowest in ...
    2007-09-05 10:20:00
  • FTSE falls 1.7 pct as data, interbank rates weigh

    Reuters - Data showed an index of U.S. pending home sales hit its lowest level in six years ... of the U.S. economy against the backdrop of a crisis in the risky subprime mortgage ... interest rate futures rose strongly to suggest aggressive Fed action on rates ...
    2007-09-05 11:10:00